Gainers & Losers: 10 stocks that moved the most on July 28

The Indian equity benchmarks closed in the red on July 28, with the Sensex ending 0.16 percent lower at 66,160.20, and the Nifty 0.07 percent down at 19,646.05. About 1,824 shares advanced, 1,697 declined and 170 remained unchanged.

Intellect Design Arena Ltd. | CMP Rs 690.90 | Intellect Design Arena jumped over 20 percent on July 28 after reporting a strong set of numbers for the first quarter of FY24. Revenue grew 18 percent year-on-year to Rs 639 crore. The gross profit margins improved for another consecutive quarter to 56.8 percent. Net profit increased 36 percent YoY to Rs 93 crore in Q1FY24. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin grew 23.1 percent from 21.6 percent in the same quarter of the previous year.

Indian Oil Corporation Ltd. | CMP Rs 95.25 | Indian Oil Corporation Limited (IOCL) ended flat on July 28 after reporting a consolidated net profit of Rs 14,735 crore in the first quarter of FY2023-24 amid a recovery in marketing margins. The company had reported a net loss of Rs 883 crore in the same period last year on account of high international crude oil prices.

Indiabulls Housing Finance Ltd. | CMP Rs 136.05 | Indiabulls Housing Finance shares surged over 6.5 percent after its board approved raising up to Rs 35,000 crore. The company said it will seek shareholders approval for the fundraise, which will happen through the issue of NCDs and/or bonds. NCDs are non-convertible debentures.

Railtel Corporation of India Ltd. | CMP Rs 158 | Shares of Rail Tel Ltd declined nearly 6 percent on July 28 after the company’s announced results for the first fiscal quarter ending of FY24. Standalone revenue from operations was Rs 463.46 crore, up 25 percent year on year (YoY) . Net profit was up 49.36 percent YoY at Rs 37.46 crore from Rs 25.08 crore in Q1FY22. EBITDA grew by 10.6 percent YoY at Rs 74.1 crore. However, the EBITDA margin contracted 15.9 percent during the quarter.

Ajanta Pharma Ltd. | CMP Rs 1615.75 | Shares of Ajanta Pharma surged over 4 percent on July 28 after the company reported a healthy set of earnings for the April-June quarter. The pharmaceutical firm posted a  19.2 percent jump in net profit for the first quarter of FY24 to Rs 208.1 crore. During the period under review, revenue came in at Rs 1,021 crore, 7.4 percent higher from Rs 950.9 crore in the corresponding period of the preceding fiscal. The stock hit a 52- week high of Rs 1,735 during the same day.

Macrotech Developers Ltd. | CMP Rs 746.90 | Shares of Macrotech Developers, better known as Lodha, ended 3 percent higher on July 28 despite the company reporting a drop in net profits and revenue in the June quarter. It also reported an increase in debt. The company’s revenue from operations came in at Rs 1,617 crore, lower than Rs 2,676 crore in the same quarter of the previous year. Consequently, net profit fell to Rs 179 crore, down from Rs 271 crore. However, the company reported its best-ever first quarter pre-sales performance at Rs 3,353 crore alongside a “very strong” business development of Rs 12,000 crore for the June quarter.

Blue Dart Express Ltd. | CMP Rs 6926.75 | Shares of Blue Dart Express slumped over 4 percent on July 28 after the company’s poor performance in the June quarter disappointed investors. Consolidated revenue fell 4 percent YoY to Rs 1,237.55 crore, whereas net profit declined 48 percent to Rs 61.28 crore in the quarter ended June. The company has only one operating segment, the integrated air and ground transportation and distribution. Operating margin shrunk to 15.40 percent from 20.66 percent a year ago, weighed down by a surge in other expenses and higher depreciation and amortisation expenses.

Sona BLW Precision Forgings Ltd. | CMP Rs 565.10 | Sona BLW Precision Forgings Limited shares fell nearly 5 percent on July 28 after brokerages said they see a limited upside to the auto component maker. Kotak Institutional Equities said EBITDA (earnings before interest, tax, depreciation and amortization) was marginally below its estimates due to lower-than-expected revenue print, partly offset by a richer product mix.

Piramal Pharma Ltd. | CMP Rs 105.75 | Shares of Piramal Pharma tanked 3 percent after the company’s board of directors approved a price of Rs 81 a share for its Rs 1,050-crore rights issue, which will open from August 8 to August 16. In a post-market-hour regulatory filing on July 27, the company said its board approved the issue size at 129,629,630 fully paid-up equity shares of face value Rs 10 each for an amount aggregating up to Rs 1,050 crore.

Trident Ltd. | CMP Rs 32.15 | Trident slumped 3 percent on July 28 after it reported a 27 percent drop in net profit year-on-year (YoY) at Rs 90 crore. Its total revenue also fell 11.6 percent to Rs 1,478 crore in the June quarter from the year-ago period. Earnings Before income tax depreciation and amortisation also fell 7.5 percent YoY to Rs 239 crore in the same period.